The World Bank has provided Ukraine with $34B in direct budget support and will help modernize its housing policy according to EU standards.

According to the Ministry of Finance, since the beginning of the full-scale invasion $34B in direct budget support has been obtained within the framework of World Bank mechanisms. In 2022-2023, five new framework projects were implemented to restore the energy network, transport and logistics infrastructure, damaged housing, health care system support, and agricultural sector restoration. Available grant funding for these projects amounts to more than $820.5M, of which Ukraine has already received $540M.

In addition, representatives from Ukraine and the World Bank signed a memorandum in support of simplifying regulations for the start of new construction and improving protection for citizens who buy real estate.

“Our task is not only to restore damaged housing but also to modernize the general housing policy by EU standards,” the Cabinet emphasized.

Ukraine also cooperates with the World Bank to incentivize private banks to provide affordable loans to Ukrainians for home purchases.